Counterfeit Nike shoe seized by authorities
Counterfeit Nike shoe seized by authorities - 
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Scott Jagow: There's a big conference in Washington today on counterfeit products. Piracy has become so rampant, it seems almost impossible to stop. But that doesn't mean U.S. companies or the government are gonna give up.

Today's agenda includes Utah Senator Orrin Hatch and NBC Universal President Jeff Zucker. The summit is sponsored by a huge business group. More now from Lisa Napoli.

Lisa Napoli: Caroline Joiner of the U.S. Chamber of Commerce says 1 in 5 Americans cops to having bought something pirated in the last year.

Caroline Joiner: We're not talking just about CDs and DVDs and software. We're talking about dangerous and defective products, like pharmaceuticals or brake pads.

A recent bust in Queens even turned up counterfeit night-lights for your kid's room. Another raid unearthed 20,000 pairs of fake Nikes tied to a sophisticated criminal operation.

Joiner says it's impossible to put a price tag on the cost to the American economy:

Joiner: These guys don't have board meetings and, you know, report to their shareholders.

Joiner says the growing problem isn't gonna stop until people realize how far-reaching its impact has become.

In Los Angeles, I'm Lisa Napoli for Marketplace.